Apple's share price hits a new high

Ahead of this month's quarterly earnings report, shares of Apple hit an all-time high.

Shares of Apple reached a new all-time high today amid expectations that the company will report record earnings later this month.

Earlier today the company's stock hit $427.75, passing its previous all-time high from mid-October. After that milestone, Apple's stock had taken a bumpy ride down to $363.37 after the company missed Wall Street's expectations , posting lower than expected fourth-quarter earnings.

Apple is set to report its first quarter earnings for 2012 on January 24. In October the company predicted it would bring in $37 billion in revenue and projected earnings of $9.30 per share, numbers that are likely to be fueled by sales of the iPhone 4S. A smattering of analyst predictions on that total number polled by Fortune earlier this week expected that number to fall somewhere between 25 and 35 million iPhones sold.

About the author

Josh Lowensohn joined CNET in 2006 and now covers Apple. Before that, Josh wrote about everything from new Web start-ups, to remote-controlled robots that watch your house. Prior to joining CNET, Josh covered breaking video game news, as well as reviewing game software. His current console favorite is the Xbox 360.

 

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